Afreximbank, UBA close $150m deal
Afreximbank and Nigeria’s United Bank for Africa Plc have sealed a $150 million Trade Financing Facility deal.
The agreement, signed on the sidelines of the ongoing Intra-African Trade Fair in Cairo, Egypt is part of the Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA).
The facility, strategically crafted to mitigate the adverse effects of the Russia-Ukraine crisis, according to Afreximbank, aims to support UBA’s clients to increase their financing for businesses across various sectors in the Nigerian economy.